Forex

EUR/USD Starts New Trading Week with Wave X Correction

Christopher Svorcik Analyst

April 20, 2015

EUR/USD

4 hour

The EUR/USD is most likely expanding its correction of wave Y (blue) with a wave WXY (magenta).

1 hour

Price is moving up slowly and correctively within the trend channel (blue).

GBP/USD

4 hour

The GBP/USD rally could run out of steam if it completes wave W (green).

1 hour

The GBP/USD is an uptrend channel (green lines) but an ABC correction could potentially take place as part of the wave X (green).

USD/JPY

4 hour

The USD/JPY is in a large consolidation and is correcting within a wave Y (green).

1 hour

Price is contained by a downtrend channel (blue).

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